- Loan term in months
- Term in months for your auto loan.
- Down payment
- Amount paid as a down payment, which for leases is often called a capital reduction.
- Other fees
- Any fee, other than a capital reduction or down payment, required to be paid at the close of the lease or loan. This may include license, title transfer fees, etc.
- Purchase price
- Total purchase price. Price should be after any manufacturer's rebate.
- Interest rate
- Annual interest rate for your loan or your lease.
- GST + PST or HST (%)
- Tax percentage rate charged on this purchase in your province. GST + PST or HST is included in each lease payment. GST + PST or HST for buying is charged on the total sale amount.
- Rate of depreciation
- The rate of depreciation gauges how fast your new automobile will lose its market value. A high depreciation rate is about 20% per year, medium is 15% per year and low is 10% per year.
- Residual percent
- For leases, this is remaining value after the lease term expires. The higher this amount, the lower your lease payment will be.
- Market value of vehicle
- Value of your auto after the lease term is over.
- Investment rate of return
- Rate of return on investments. This is the return that you would make if you were to invest your down payment or security deposit instead of using it in your auto purchase or lease. Please use a realistic rate. Consult an investment professional for an appropriate rate of return.
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